Kraft Davis & Associates LLC Increases Position in Cintas Co. (NASDAQ:CTAS)

Kraft Davis & Associates LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,368 shares of the business services provider’s stock after acquiring an additional 2,526 shares during the period. Kraft Davis & Associates LLC’s holdings in Cintas were worth $695,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the 1st quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC increased its holdings in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 0.8 %

Shares of CTAS stock opened at $217.97 on Wednesday. The firm has a fifty day moving average of $222.07 and a 200-day moving average of $196.41. The stock has a market cap of $87.91 billion, a price-to-earnings ratio of 55.04, a P/E/G ratio of 4.24 and a beta of 1.32. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. On average, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio is 39.39%.

Cintas declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent analyst reports. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.